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Viracta Therapeutics Secures $50 Million Credit Facility From Silicon Valley Bank And Oxford Finance

Nov 05, 2021•almost 4 years ago

Amount Raised

$50 Million

San Diego

Description

Viracta Therapeutics, Inc. (Nasdaq: VIRX), a precision oncology company primarily focused on targeting virus-associated malignancies, today announced that the Company has entered into a loan and security agreement with Silicon Valley Bank (SVB) and Oxford Finance LLC (Oxford) for up to $50.0 million. In connection with the $50.0 million credit facility, the Company and SVB agreed to terminate the Company's prior $15.0 million loan and security agreement and the existing $5.0 million debt balance was refinanced. Under this new $50.0 million credit facility, the remaining $45.0 million is available in two additional tranches of $20.0 million and $25.0 million

Company Information

Company

Viracta Therapeutics

Location

San Diego, California, United States

About

Viracta is a precision oncology company targeting virus-associated malignancies. Viracta's proprietary investigational drug, nanatinostat, is currently being evaluated in combination with the antiviral agent valganciclovir as an oral combination therapy in two Phase 2 clinical trials for EBV-positive lymphoma and one Phase 1b/2 trial in patients with EBV+ nasopharyngeal carcinoma and other EBV+ solid tumors. Viracta is also pursuing the application of its inducible synthetic lethality approach in other virus-related cancers. For additional information please visit www.viracta.com.

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